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Wednesday, November 09, 2011

Trade review 11-9-11

I got a pick right today...

Hits:

SBSA

A clear win for shorts when this gap down open tried to fill early and failed. Once it began to trade under the opening price level after the noise candle period, it was a fade entry. Steady fading with acceleration into the finish followed, en route to a red finish of over 28.5% today.

Misses:

LEXG

It's possible some shorts lost on this, when it crapped from the noise candle but continued to make new lows after a brief bounce, since many could have entered on the break of the initial low. It advanced some more, failed to close the gap, then steadily decayed, but ended probably above the entry point, red by almost 19% today. The price action sequence, gaps, and other factors can make what looks like a win on paper a loss!

Push:

INHX

This looks like a win, but it was hard to impossible for shorts to take advantage of the red finish of over 1.5% today. It opened on a clear gap down near the lod. This advanced out of the gate steadily, even greening, before it fell back nominally red in the afternoon. It moved sideways the rest of the way, with no clear entry.

CONN

A gap down at the hod fell out of the open, denying longs any play. It stopped sliding within 30 minutes then moved sideways under the flat line into the close, which was red by nearly 6.5% today.

DRWI

This looks like a win on paper, finishing south by nearly 3% today. But it opened on a big gap down near the lod, and moved up from there, even greening, before decaying in the afternoon. Closed above the open and did not provide shorts with a clear path to enter.

CMFO

No trigger for longs when a clear gap down tried to fill early but failed. It then headed down, continuing to decay until the afternoon, when it headed sideways into the close, down over 9% today on a no play.

VALV

Another no play for longs when a gap down from the hod never triggered. It steadily fell all day into the close, en route to a red finish of over 10% today.

My off record pick LSTG did not pan out for longs. The noise candle printed green, then it fell hard, going green to red fast. It made new lows later before recovering all the way to the flat line in the afternoon. Closed south by nearly 7.5% today on a no play.